U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Tennessee

I received a letter from US Bank that my insurance policy is not acceptable. They state that the investor requires that the deductible not exceed five percent of the policy limits. I live in a condo and it is insured through my condo association. I also carry a personal policy. My condo is adequately insured. No loan documents state the deductible requirements. My personal policy is for $18000.00 with a $1000.00 deductible. I called US Bank and the representative told meI have to get my coverage increased or deductible lowered on my personal policy. I 've had this loan for less than a year and my current coverage is the same and was accepted when I took out the loan. My loan balance is only 60 % of the appraised value. The representative told me if I did n't change the coverage amount or deductible they would not accept my policy and force place coverage and increase my monthly payment.